Cash and currency
The currency in Japan is the yen, symbolized by the ¥ figure. Coins come in denominations of ¥1, ¥5, ¥10, ¥50, ¥100, and ¥500. Bills come in denominations of ¥1,000, ¥2,000, ¥5,000, and ¥10,000. Japan is very much a cash society and credit cards are not as widely used as in Western countries. However, they are widely accepted in restaurants, shops and hotels. It is advisable to carry cash when paying bills in more inexpensive restaurants, small shops, and some Japanese inns in rural area.
Direct payment of cash is most popular in Japan. Small shops, restaurants and markets usually do not accept any other form of payment. Major credit cards (such as Visa, Mastercard and to some extent American Express) are increasingly being used, especially in big cities and tourist hubs, but only in restaurants, hotels or big shopping malls with a transactional fee (3% – 5%).
Tip: Carry a suitable amount of cash for markets, dining, drinks and shopping. Kindly make sure any American money you bring is in good condition – not dirty, damaged or tattered.
Most banks are open from 9am to 3pm, but closed on weekends and national holidays. Bear in mind that exchanging money and traveler’s cheques at banks and post offices can be a very lengthy procedure. Foreign credit, debit and cash cards are convenient for obtaining cash – however, bank ATM machines are restricted to cards issued in Japan. The best option is to use the International ATMs on arrival at the airport and also those at 7-Eleven convenience stores.